Sensex moving towards 67K milestone

New Delhi, July 18

BSE Sensex is moving towards another milestone of 67,000 points mark.

On Tuesday, Sensex was up 360 points at 66,960 points. Among the Sensex stocks, Infosys, ICICI Bank, Reliance are up by more than 1 per cent.

On the other hand, Titan and Tata Motors are down by more than 1 per cent.

Since the market has run up too much, too fast, a correction can happen at any time, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Some profit booking at the present level can be considered, he added.

Good results from HDFC Bank augurs well for Bank Nifty. More good results from banking stocks are likely, he said.

The global market construct continues to be favourable for the bulls. The declining dollar and the capital flows to emerging markets that it triggers can impart resilience to the market, he said.

However, high valuations and possible profit booking can restrain the rally. A healthy consolidation can be the near-term trend, he said.